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☆ Boeing's new CEO is already showing that improving quality control is his top priority
▼ + stars: | 2024-08-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Kelly Ortberg visited two key production facilities in his first few days in charge. Ortberg also plans to be based near Seattle, Boeing's historic base and its manufacturing hub. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing's new CEO is endeavoring to turn the company around, beginning by building a closer relationship with factory workers.

Persons: Kelly Ortberg, Ortberg, —, Max, AeroSystems Organizations: Service, Boeing, Business Locations: Seattle, Renton , Washington, Wichita , Kansas

☆ Boeing's new outsider CEO Ortberg takes the helm, this time from the factory floor
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +8 min

Aerospace veteran Robert “Kelly” Ortberg becomes Boeing’s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. Boeing's new CEO, Robert "Kelly" Ortberg. Ortberg’s Day 1 activity is walking the floor of Boeing’s factory in Renton, Washington, where it builds its bestselling but problematic 737 Max. The airline’s CEO hinted at the big feat Ortberg has ahead of him. “We look forward to working with Kelly Ortberg in his efforts to return Boeing to its place as the leading American aerospace company,” CEO Bob Jordan said in a written statement.

Persons: Robert “ Kelly ” Ortberg, Robert " Kelly, Ortberg, ”, Rockwell Collins, Richard Aboulafia, ” Ortberg, Boeing’s, Butch Wilmore, Suni Williams, Ron Epstein, “, isn’t, ” Jon Holden, Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Chicago —, Kelly Ortberg, Bob Jordan, —, Michael Sheetz Organizations: Boeing, AFP, Getty, Ortberg’s, National Transportation, Air Force One, NASA, SpaceX, International Space, Airbus, Bank of America, International Association of Machinists, Aerospace Workers, Arlington , Virginia —, ”, Southwest Airlines Locations: U.S, Renton , Washington, Portland , Oregon, “, Washington state, Oregon, Arlington , Virginia, Chicago, Seattle, American

☆ Boeing’s new CEO is already making an overdue change his first day on the job
▼ + stars: | 2024-08-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Today is Kelly Ortberg’s first day as CEO of Boeing. The new CEO said in a memo to staff Thursday that he decided to work 2,300 miles from the company’s current corporate offices in Arlington, Virginia, to help restore trust in the company’s commercial aircraft business. A Boeing 737 MAX aircraft is shown on the assembly line at the Boeing facility in Renton, Washington. The company said it had no comment whether it is considering moving its entire headquarters back to Seattle along with Ortberg. Boeing executives admitted there they still don’t know how the plane in the door plug blowout left Boeing’s Renton, Washington factory without the four bolts needed to keep the door plug in place.

Persons: Kelly Ortberg’s, He’s, –, Ortberg, ” Ortberg, “, he’d, Jennifer Buchanan, Richard Aboulafia, ”, he’s, Max, Jennifer Homendy Organizations: New, New York CNN, Boeing, Puget Sound, Seattle Times, AP, Max, Alaska Airlines, ” Boeing, Federal Aviation Administration, National Transportation Safety Board, Alaska Locations: New York, Seattle, Chicago, Arlington , Virginia, Renton , Washington, Boeing’s Renton , Washington

Members of the main U.S. transportation regulator grilled Boeing executives Wednesday over the company’s workplace safety culture and allegations of retaliation linked to two employees who were sidelined over a January mishap involving a Boeing 737 Max 9 in which a door plug detached mid-flight. A preliminary report found that four bolts intended to secure the door plug had been missing when the accident occurred. The workers were placed in a different building where Boeing builds wings, which the NTSB said in a report workers refer to as “Boeing prison,” Homendy said at Tuesday’s hearing. Boeing is working on plug sensor changes that will not allow the door plug to fully close if there are any issues until it is firmly secured. Boeing committed under oath to work with the NTSB without interference on a safety culture survey of Boeing employees.

Persons: Jennifer Homendy, Hector Silva, ” Homendy, ‘, ” Silva, “, Silva, Sabrina Woods, “ Bolts, ” Woods, Boeing execs, Homendy, you’re, Elizabeth Lund, Boeing’s, Lund, Kelly Ortberg Organizations: Boeing, National Transportation Safety Board, ‘ Boeing, Alaska Airlines Locations: U.S, Portland , Oregon, Ontario , California, Boeing’s Renton , Washington

☆ We’re about to get the most detailed explanation yet for Boeing’s terrifying mid-air blowout
▼ + stars: | 2024-08-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

It was a combination of the skill of the flight crew and good luck that no one was killed. But there were problems with five rivets near where the door plug was installed, and Boeing workers removed the door plug in order to fix those rivets. It would have had much more difficulty making it safely to the ground if the door plug had failed hours, rather than minutes, from the nearest runway. But the probe is only one of the problems Boeing faces because of the incident. He has faced harsh criticism for many of Boeing’s problems, with more than a dozen whistleblowers at the company complaining to congressional investigators that they faced pressure and retaliation for flagging safety problems in the company’s assembly process.

Persons: Max, Dave Calhoun, Kelly Ortberg, Rockwell Collins, Calhoun, haven’t, Josh Hawley, ” Organizations: New, New York CNN, Alaska Airlines, Boeing, Max, National Transportation Safety Board, NTSB, FBI, Federal Aviation Administration, Justice Department, FAA, DOJ, Rockwell, Capitol Locations: New York, Alaska, Renton , Washington, Hawaii

☆ Here are the top stocks to own right now, according to UBS
▼ + stars: | 2024-08-02 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

A handful of stocks may be due for some gains, even as the market sells off. The firm added three new names to the list from the industrials and materials sectors, including Freeport-McMoRan and Norfolk Southern . UBS said Air Products is at "the forefront of the energy transition," citing the progress it is making on large "blue" and "green" hydrogen projects. Meta is trading at a multiple of 23 times earnings on a forward price-to-earnings basis, per FactSet, and UBS sees shares as attractively valued. "The company should benefit from healthy user engagement, improving monetization of Reels, and longer-term monetization of Instagram and WhatsApp offer longer-term opportunities."

Persons: Russell, Nathaniel Gabriel, Gabriel, Robert " Kelly, Ortberg, Meta Organizations: Dow Jones, UBS, Norfolk, Air Products, Chemicals, Air, Boeing, Alaska Airlines Boeing, Max, DOJ Locations: Freeport, McMoRan

☆ Boeing's new CEO already seems to have given a major indication of where his priorities lie
▼ + stars: | 2024-08-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Read previewBoeing's incoming CEO, Kelly Ortberg, is already signaling his intent to get the planemaker back on track. Later that month, The Seattle Times reported that Boeing's board shut down a shareholder's bid to move its headquarters back to Seattle. Outgoing CEO Dave Calhoun last year faced criticism from employees after commuting to Boeing's HQ by private jet, The Wall Street Journal reported. Airline bosses like Emirates' Tim Clark had called on Boeing to appoint a new CEO with an engineering background. Boeing's incoming CEO, Kelly Ortberg, is an aerospace veteran.

Persons: —, Kelly Ortberg, Ortberg, It's, Rockwell Collins, Max, Lindsey Wasson, Maria Cantwell, Dave Calhoun, Calhoun, Tim Clark, we've, Nicolas Owens, Owens, Bob Clifford, preventively Organizations: Service, Seattle Times, Boeing, Reuters, Business, Alaska Airlines, Federal Aviation Administration, REUTERS, Commerce, Science, Transportation, Street Journal, Morningstar Locations: Seattle, Chicago, Virginia, Washington, South Carolina, Renton , Washington, Emirates, Blackstone

☆ Boeing’s new CEO just landed the best (and worst) job in Corporate America
▼ + stars: | 2024-08-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

You’ve just landed a job that is simultaneously the best and worst in Corporate America. There’s a laundry list of problems Ortberg will have to confront on Day One, and he’ll be operating under intense scrutiny from a rabid audience of shareholders, regulators, customers and even the FBI. “I wish I knew more about other industries to say whether he was the worst aerospace CEO or the worst CEO, period.”Under Calhoun’s watch, Boeing’s headaches have multiplied. Ortberg climbed the ranks at Rockwell Collins, an aviation tech supplier, from 1987 to 2013, when he became its CEO. Boeing’s shares rose 2% Wednesday, even after Boeing announced its losses tripled in the second quarter, reflecting Wall Street’s optimism about Ortberg.

Persons: CNN Business ’, Kelly Ortberg, You’ve, that’s, can’t, Ortberg, Dave Calhoun, Richard Aboulafia, “, Boeing didn’t, Steven Mollenkopf, Calhoun “, ”, they’ll, That’s, ” Aboulafia, Robert Clifford, Max, ” Clifford, Chris Isidore, He’s, Rockwell Collins, Ron Epstein, “ Kelly, he’ll Organizations: CNN Business, New York CNN, Corporate, Boeing, Ortberg, FBI, Airbus, Rockwell, Industry, Bank of America, Puget Locations: New York, Corporate America, Seattle, Chicago, Arlington , Virginia

☆ Boeing Names Kelly Ortberg as Its Chief Executive
▼ + stars: | 2024-07-31 | by ( Niraj Chokshi | More About Niraj Chokshi | ) www.nytimes.com time to read: +1 min

Mr. Ortberg, known as Kelly, will inherit a long list of difficult tasks. Mr. Ortberg, 64, brings decades of industry experience and an outsider’s perspective to the role. He is a former chief executive of Rockwell Collins, which made electronic systems and other technology for aircraft, including those made by Boeing. A mechanical engineer, Mr. Ortberg began his career at Texas Instruments in 1983. He joined Rockwell in 1987, quickly rising through the ranks, overseeing development programs for the Boeing 787 and Airbus A350 planes, and eventually becoming chief executive in 2013.

Persons: Robert K, Ortberg, Kelly, Rockwell Collins, Ortberg’s, Rockwell Organizations: Mr, Boeing, Current, Texas Instruments, Rockwell, Airbus, United Technologies, Raytheon, RTX

☆ Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun
▼ + stars: | 2024-07-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company's production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Boeing has named Robert "Kelly" Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX . His appointment Wednesday came alongside Boeing's second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales. "Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies."

Persons: Kelly Ortberg, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, Boeing's, Calhoun, Kelly, Steven Mollenkopf Organizations: Rockwell Collins Inc, Boeing, Rockwell, Collins Aerospace Locations: Manchester , Iowa, U.S

☆ Kelly Ortberg is the next best thing for Boeing, says Jefferies' Sheila Kahyaoglu
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKelly Ortberg is the next best thing for Boeing, says Jefferies' Sheila KahyaogluSheila Kahyaoglu, Jefferies aerospace and defense analyst, joins 'Squawk on the Street' to discuss Boeing, as the aerospace company announced its new CEO.

Persons: Kelly Ortberg, Jefferies, Sheila Kahyaoglu Sheila Kahyaoglu Organizations: Boeing, Jefferies

☆ Boeing names new CEO after losses more than triple
▼ + stars: | 2024-07-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Boeing announced Robert “Kelly” Ortberg, the former CEO of supplier Rockwell Collins, will be its new CEO, effective August 8, replacing retiring Boeing CEO Dave Calhoun, who has been under fire for the company’s problems. Serious problems to solveOrtberg will have his hands full fixing the problems at Boeing, which has not posted a profitable year since 2019. It recently agreed to plead guilty to charges that its employees defrauded the Federal Aviation Administration during the original certification process for the 737 Max. The company has come under renewed scrutiny since a 737 Max plane’s door plug blew off shortly after takeoff in January. But that will keep the losses building at Boeing as it can’t make money at its current level of production.

Persons: Robert “ Kelly ” Ortberg, Rockwell Collins, Dave Calhoun, Ortberg, I’m, ”, ” Ortberg, Dennis Muilenburg, “ Kelly, Steven Mollenkopf, ” Rockwell Collins, Max Organizations: New, New York CNN, Boeing, Texas Instruments, United Technologies, Collins Aerospace, Federal Aviation Administration, FAA, Air Force Locations: New York

☆ Boeing just named its new CEO — an aerospace veteran with the tough task of getting the planemaker back on track
▼ + stars: | 2024-07-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Industry veteran Kelly Ortberg will be the new CEO of Boeing. He faces a tough task to get the planemaker back on track after the Alaska Airlines blowout. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing announced that its new CEO will be Kelly Ortberg, the former boss of avionics firm Rockwell Collins. This story is available exclusively to Business Insider subscribers.

Persons: Kelly Ortberg, —, Rockwell Collins, Ortberg, Dave Calhoun, Steve Mollenkopf Organizations: Boeing, Airline, Alaska Airlines, Service, Business

☆ Jim Cramer praises Boeing's new CEO as a 'hands-on operator' who will be good for the stock
▼ + stars: | 2024-07-31 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

The stock, however, was up 2% after Boeing announced its new CEO, industry veteran Kelly Ortberg. Jim Cramer said Wednesday that Ortberg is a "real serious guy, hands-on operator." Cramer said the new CEO will send Boeing shares higher: "But it." It will continue to be good, and we're not in it," Cramer said, referring to not owning the stock in the CNBC Investing Club portfolio. "Mastercard is doing better than Visa because of ancillary businesses they have in addition to cross-border," Cramer said.

Persons: Jim Cramer's, Kelly Ortberg, Jim Cramer, Cramer, Jayshree Ullal, There's, we're Organizations: CNBC, Club, Boeing, Arista Networks, Arista, Mobile, Mastercard, Visa

☆ Stocks making the biggest moves midday: Boeing, Vistra, Match Group and more
▼ + stars: | 2024-07-31 | by ( Sean Conlon | ) www.cnbc.com time to read: +5 min

Match Group — Shares of the Tinder dating app owner moved 13% higher after the company posted second-quarter revenue of $864 million. That is above the $856.5 million estimate that analysts polled by FactSet had expected. Revenue, however, came in below expectations at $6.48 billion, compared to the $6.55 billion analysts polled by FactSet had expected. Marriott reported $6.44 billion, which was below the $6.47 billion analysts polled by FactSet had expected. Bunge — The food stock moved nearly 8% lower after the company posted second-quarter results that missed analysts' expectations.

Persons: Vistra, FactSet, LSEG, Dan Dolev, AutoNation, Kraft Heinz —, Bunge, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, —, Alex Harring, Samantha Subin, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: FactSet, Nuclear Regulatory Commission, Nuclear, AMD, Nvidia, Qualcomm, Arista Networks, Mizuho, DuPont de Nemours, DuPont, Humana, Starbucks, LSEG, Marriott, Constellation Energy, Constellation, Boeing, Rockwell, Collins Aerospace Locations: Texas, Japan, Korea, Tuesday's

☆ Stocks making the biggest moves premarket: Pinterest, Match Group, Advanced Micro Devices and more
▼ + stars: | 2024-07-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +6 min

Advanced Micro Devices — Shares popped nearly 9% after the chipmaker's earnings and revenue beat analyst estimates postmarket Tuesday. AMD reported adjusted earnings of 69 cents per share versus 68 cents expected from analysts polled by LSEG. Live Nation Entertainment — The entertainment stock was little changed after posting second-quarter revenue that matched expectations. But revenue of $6.48 billion was below the $6.55 billion analysts had expected, according to FactSet. Marriott International — The hotel chain slipped 4% after posting second-quarter revenue of $6.44 billion, below the $6.47 billion expected by analysts polled by FactSet.

Persons: DuPont, LSEG, Pinterest, FactSet, Dan Dolev, Kelly Ortberg, Dave Calhoun, AutoNation, StreetAccount, Kraft Heinz —, Greg Heckman, —, Brian Evans, Michelle Fox, Fred Imbert, Spencer Kimball, Tanaya Macheel, Jesse Pound, Samantha Subin Organizations: DuPont, Intel, Bloomberg, Microsoft, AMD, LSEG, Revenue, Nvidia, ASML, Arista Networks, Arista, Starbucks, Mizuho, Boeing, Collins Aerospace, Entertainment, Humana, Marriott, FactSet, Mobile, Nuclear Regulatory Commission, Nuclear, Constellation Energy, Constellation, Bunge Locations: Tuesday's, FactSet, Texas, U.S

☆ One of these four people could be Boeing's next CEO
▼ + stars: | 2024-07-29 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Boeing may have narrowed its CEO search to four candidates, including Kelly Ortberg. Current CEO Dave Calhoun said he will step down by year-end after the Alaska Airlines disaster. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe race for Boeing's new chief may be down to four candidates, including a new name. Kelly Ortberg, the former CEO of aerospace company Rockwell Collins, is seriously being considered for the position of Boeing's chief, trade publication The Air Current reported on Sunday, citing industry officials.

Persons: Kelly Ortberg, Dave Calhoun, Stephanie Pope, Pat Shanahan, Steve Mollenkopf, —, Rockwell Collins Organizations: Boeing, Alaska Airlines, Service, Rockwell, Business

☆ Boeing and Airbus go head-to-head at a giant industry airshow every 2 years. This time, neither won.
▼ + stars: | 2024-07-29 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +4 min

Read previewThe usual orders battle between Airbus and Boeing played second fiddle to supply-chain issues at last week's Farnborough Airshow. AdvertisementLast month, Airbus reduced its delivery targets, citing supply chain issues, which saw its stock drop as much as 11%. The day before the show, Guillaume Faury, the Airbus CEO, told the media the planemaker was having "important discussions" with some key suppliers as it was facing "a bit of an unexpected challenge." Frustrations with the supply chain were evident among airline bosses speaking at a summit on the first day of the airshow. AdvertisementWith gray skies for much of the week, the weather seemed to reflect the downturn for Airbus and Boeing.

Persons: —, Joshua Ng, Guillaume Faury, Luis Gallego, Ng, Dave Calhoun, Stephanie Pope, Kelly Ortberg, Rockwell Collins, Sir Keir Starmer Organizations: Service, Airbus, Boeing, Farnborough, November's Dubai, Alton Aviation Consultancy, Business, International Airlines Group, British Airways, Aer Lingus, Alaska Airlines, Current, Defense, NATO Locations: Paris, Farnborough, Ukraine, Gaza

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